Recent research has revealed Ilford to be one of the most appealing places for landlords and developers to be directing their next investment. One of the areas included in Boris Johnson’s “City in the East” masterplan, Ilford is soon predicted to experience an intense period of change with many investors keen to play a part in the story.
The Office for National Statistics has revealed that the population in the UK will exceed 70 million in the next 12 years. This reflects an increase of 4.4 million by 2027 and London is likely to absorb a substantial proportion of the increase. Yields are naturally a major concern for buy-to-let investors but there are many benefits to be gained from purchasing properties in areas with attractive prospects for capital growth.
Ilford’s predicted future growth and regeneration is due to its current property prices and potential. Yields across the UK have risen by 2.7% in the last 12 months and the improved potential for return is prompting investors and developers to turn their attention to developments such as Horizon London in Ilford to achieve a healthy income.
One and two bedroom apartments in the area are currently lower than the London average with prices ranging from £225,727 to £498,925. As a result of the predicted rise in property prices in the next few years Ilford presents the potential for lucrative and prosperous opportunities.
With excellent connectivity, schools with outstanding reputations, an abundance of open spaces, low crime rates, key retail attractors and positive market indicators, Ilford offers incredible value for property investors. The eventual arrival of Crossrail is expected to drive up property prices and the situation will be further impacted by Ilford’s population growth. The figures reveal a predicted increase of 22.5% by 2028. This means that it is a very interesting time to be part of Ilford’s property market and savvy investors have the chance to snap up properties in an area with a very bright future.
Whatever happens in Ilford’s future, we will be on hand to provide the services investors need. As a professional property specialist and lettings agent covering Hackney, Redbridge, Islington and all other areas of the capital, we can help you to make the most of every opportunity.